Community Health Systems, a Franklin-based health care corporation, has begun operating at its new Cane Ridge site, bringing nearly 1,000 employees to the area that is poised for significant growth.

CHS Chief Executive Officer Wayne Smith cut a blue ribbon Wednesday marking the company’s local expansion and heaped praise on the Davidson County neighborhood. In addition to CHS, Antioch and Cane Ridge have attracted an IKEA store, Bridgestone Americas and LKQ in recent years.

“Antioch community is growing with new businesses, homes, restaurants, retail,” Smith said. “This is going to be a destination location.”

The company eventually expects to staff 2,000 employees at the 240,000 square-foot building and is investing $66 million in the 36-acre site. Positions at CHS Cane Ridge are in physician support, supply chain, accounts payable and payroll.

The CHS campus is the first to completed at Century Farms, a 300-acre site being developed by Oldacre McDonald.

CHS CEO Wayne Smith speaks at the new CHS Cane Ridge site. Nearly 1,000 employees work there and another 1,000 are expected to be added.(Photo: Jamie McGee)

Mayor Megan Barry emphasized the role that CHS has made in the area's development. In addition to the corporate growth, Metro has invested in an Antioch library, a community center and has purchased 600 acres of open space. In June, Metro Council approved $7 million to make improvements to Interstate 24.

"We are so excited about having CHS out here. This is a great anchor," Barry said. "It's going to be a key piece of the thriving economy out here."

CHS received about $5 million in incentives from the city as part of its Nashville expansion through property tax abatement and received $6.75 million through a Tennessee economic development grant in 2015.

Smith said the new building is part of an overall cost-cutting strategy as the company weathers a series of losses and a two-year decline in share prices.

“This is part of our reset in consolidating a lot of back-office jobs here," Smith said. "It enhances productivity and it enhances quality. It allows us to do an even better job in our hospitals. We are excited about doing this, and this is a cost-saving event for us as a company."

In the past year, CHS has spun off nearly 60 hospitals, more than half of which are owned by Quorum Health, and sold an 80 percent stake in its home care division. In early 2014, CHS owned 206 hospitals, a number now reduced to 137.